Wipro chairman Rishad Premji said although the environment has not deteriorated further, neither has it improved, while CEO Srinivas Pallia said clients continue to prioritise productivity initiatives and some discretionary projects have started to reappear.
Premji also expressed optimism on how demand is shaping up in 2025, highlighting an anticipated rebound in discretionary spending.
Chairman of India’s fourth-largest IT company believes that the need to recharge and show up well for work should not be underestimated.
The Wipro veteran said technology and tech services industry is probably going through the most disruptive and profound change in the last 17-18 years with Gen AI
Premji also said Wipro has bred many CEOs that have gone out to build organisations elsewhere
Wipro has trained over 225,000 employees in Gen AI fundamentals and has actively deployed the nascent tech across internal processes.
Premji is entitled to a 0.35 percent commission on incremental consolidated net profits, but since it was negative, no commission was payable
Azim Premji has been re-appointed as the Non-Executive, Non-Independent Director, while Rishad will be the Executive Chairman till July 2029.
Apart from performance and senior-level churn, the board was also concerned about high costs linked to acquisitions and expat hires.
While some senior executives joined rival Tier-I companies, many others took up chief executive positions in mid-tier and unlisted IT companies.
The total number of shares gifted accounts for 0.2 percent of the share capital of the IT services firm
Rishad Premji also advocated mental wellbeing be taken just as seriously as physical wellness.
The exit of the 21-year Wipro veteran and senior leader is the ninth top-level exit in calendar year 2023.
'He founded the consumer care business of Wipro in December 1945 before the independence of India,' Wipro chairman Rishad Premji wrote about his grandfather MH Hasham Premji.
Rishad Premji said that in sectors like banking and financial services and technologies, clients have spent more on cost optimization, and less on discretionary spending, especially in the second half of last fiscal year.
Rishad Premji, who is entitled to a commission of 0.35 percent on incremental consolidated net profits, didn’t receive any commission as it was negative.
Wipro chairman Rishad Premji took an almost 50 percent paycut for financial year 2023, according to a recent filing made to the Securities and Exchange Commission in the US.
Rishad Premji tweeted on Sunday night, thanking Virat Kohli for 'reminding us just how special you are,'.
More than 2 million mothers left the workforce in 2020, according to a study conducted by UN Women. The study further revealed an imbalance of responsibilities between men and women and how mothers have had to sacrifice their careers to take care of children. So, what can corporations do today to retain their women employees? Former PepsiCo CEO Indra Nooyi and WIPRO's executive chairman, Rishad Premji threw some light on the issue. Watch!
Wipro chairman Rishad Premji said that organisations must create avenues and ways that make it much simpler for women to either not leave the workforce or rejoin it.
Rishad Premji believes that leaders who can empathise and connect with people are very powerful. The Wipro chairman also said that it is important to encourage an environment of risk-taking and celebrate failures.
UK's Chancellor of the Exchequer, Jeremy Hunt, met Finance Minister Nirmala Sitharaman, Wipro Chairman Rishad Premji and comedian Shraddha Jain in Bengaluru.
Rishad Premji was in the news this year for sparking a big debate about moonlighting -- secretly having a second job in addition to your regular one.
Wipro has opened its Asia Pacific, Middle East and Africa headquarters at the Dubai World Trade Centre.
Making friends at work is not easy. So, how do you identify one?